XML 43 R33.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Option Activity
A summary of option activity under the Plans for the three months ended March 31, 2024 follows:
(in thousands, except for share and per share amounts)Number of
Shares
Weighted Average
Exercise Price at
Grant Date
Weighted Average
Remaining Term
(Years)
Aggregate
Intrinsic
Value
Outstanding at December 31, 20234,792,506 $12.95 6.00$— 
Expired(16,000)12.28 
Outstanding at March 31, 20244,776,506 12.95 5.77— 
Exercisable at March 31, 20243,586,512 14.05 4.89— 
Vested and expected to vest at March 31, 20244,670,652 13.06 5.70— 
Schedule of RSU Activity
A summary of RSU activity for the Plans for the three months ended March 31, 2024 is as follows:
Number of
Shares
Weighted
Average
Grant Date Fair Value
Unvested at December 31, 20231,905,310 $10.87 
Granted1,494,900 4.37 
Forfeited(16,910)12.43 
Vested(662,024)12.17 
Unvested at March 31, 20242,721,276 6.98 
Schedule of Stock-Based Compensation Expense
Stock-based compensation expense recognized for the three months ended March 31, 2024 and 2023 was comprised of the following:
 Three Months Ended
(in thousands)March 31,
2024
March 31,
2023
Research and development$864 $1,066 
Selling, general and administrative2,720 3,285 
Total stock-based compensation expense$3,584 $4,351 
Schedule of Black-Scholes-Merton Option Pricing Model for Employee and Director Stock Options Granted Assumptions used in the Black-Scholes-Merton option pricing model for employee and director stock options granted during the three months ended March 31, 2023 were as follows:
 Three Months Ended
March 31,
2023
Expected dividend yield%
Weighted average expected volatility47 %
Weighted average expected term (years)6.15
Weighted average risk-free rate3.92 %